Blog

Slovakia Holding up the Show

After a slow start, the market is mixed as we head into the second half of trading. The bulls are waiting for the all clear sign from Slovakia which is scheduled to vote on Europe’s bailout fund this afternoon. There could be a pullback if Slovakia doesn’t go along with “the plan” which is making Wall Street a little a nervous. There have been 16 countries that use the euro who have approved a plan to strengthen a European rescue fund, but Slovakia hasn’t. Their approval would increase the size and powers of Europe’s bailout package and if they say “no”, it could complicate efforts to address Europe’s debt crisis.

Here at home, the Financial stocks are showing some strength after starting the session lower on the expected release of the Volcker Rule. Tech has been steady which has given the bulls some strength as they try to overtake another layer of resistance.

Also in play later today will be the release of the FOMC’s latest meeting minutes.

Our current trades are holding up well and we are excited about our latest recommendation as we got to buy on this morning’s dip.

As we head to press, the Dow is down 14 points to 11,418 while the S&P is higher by a point to 1,195. The Nasdaq is higher by a a dozen points to 2,578.

We will be back in the morning to cover Alcoa’s (AA, $10.37, up $0.28) earnings which will be released after the close today. Subscribers, check the Members Area for the updates.

]]>

Comments are closed.

CFTC Disclosure:

GOVERNMENT REGULATIONS REQUIRE DISCLOSURE OF THE FACT THAT WHILE THESE METHODS MAY HAVE WORKED IN THE PAST, PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE PERFORMANCE. WHILE THERE IS A POTENTIAL FOR PROFITS THERE IS ALSO A RISK OF LOSS. A LOSS INCURRED IN CONNECTION WITH Momentum Options Trading, LLC CAN BE SIGNIFICANT. YOU SHOULD THEREFORE CAREFULLY CONSIDER WHETHER TRADING IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CIRCUMSTANCE. THERE IS SUBSTANTIAL RISK IN TRADING. A LOSS INCURRED IN CONNECTION WITH FUTURES TRADING CAN BE SIGNIFICANT. WE MAKE NO CLAIM REGARDING PAST OR FUTURE PERFORMANCE. WE MERELY TRACK EVERY TRADE AND SHOW THE PERFORMANCE OF ALL TRADES THE SYSTEM OR NEWSLETTER PRODUCES. SIMULATED TRADING IS DIFFERENT THAN TRADING REAL MONEY. HYPOTHETICAL RESULTS ARE NOT REAL RESULTS. PLEASE CONTACT YOUR BROKER ABOUT THE RISK OR TRADING STOCKS, OPTIONS OR FUTURES. ALL COMMUNICATIONS ARE OPINIONS NOT ADVICE.

CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.